How Stake made US stocks more accessible to Australians

Behind the API-heavy systems implementation of the online trading system.

finance stock market desktop
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In 2017, Australia’s Stake set out to build a website application that would let Australian investors buy US shares online. (It also supports customers in New Zealand, the UK, and Brazil.) Doing that meant integrating multiple services to handle identity management, to connect to the DriveWealth back-end brokerage platform, create bank accounts for international money transfer, and execute the actual transactions in the highly regulated securities industry.

For those to work, co-founder and COO Dan Silver says, Stake had to first understand the user flow—such as understanding the customer pain points of Australians buying US shares—and the business itself so when it was time to integrate, everything was ready to be connected and tested.

How Stake built its application: API-based assembly

It took Stake 12 months from setting up the company to having a first version of a marketable platform in 2017, which included negotiating contracts with providers, getting regulatory approvals, and building the platform. They also did testing such as penetration and user testing.

“The heavy lifting and the works are done up front when you’re doing the business case. The product design piece, that’s the most important part really,” Silver says. 

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